Victoria Owners Corporation

Victoria is Australia's 'garden state' offering a wide variety of climates and a diversity of culture. Melbourne has been regularly voted one of the most liveable cities in the world. Victoria has more than 90,000 owners corporations on title representing well over 750,000 lots. With constant high demand for housing and inner-city living, Melbourne is forecasted to continue strong growth in the strata property sector.

The prevalence and importance of the strata sector is increasing. In 2014, the Vic Government’s Plan Melbourne strategy says Melbourne needs an extra 1.6 million dwellings by 2051 and 66% of these would be apartments or townhouses. That is, 66% is to be strata and only 34% would be detached houses.

50% of all plans registered by Land Victoria in 2013-14 were owners corporations.

Victorian body corporate/ owners corporation terminology differs from other states. Owners Corporation Managers manage the common property of the owners corporation, as detailed in the Plan of Subdivision, with the help of an owners corporation committee.

When buying and selling property, the vendor disclosure document for the Owners Corporation is the Owners Corporation Certificate, which will be in the Vendor's Statement (Section 32).

Some of the legislation affecting owners corporations in Victoria are the Owners Corporations Act 2006, Subdivision Act 1988, Owners Corporations Regulations 2007, Subdivision (Permit and Certification Fees) Regulations 2000, Subdivision (Procedures) Regulations 2000, and Subdivision (Registrar's Fees) Regulations 2004.

The Victorian dispute resolution body is the Victorian Civil and Administrative Tribunal (VCAT).

Ace Body Corporate Management has been a member of the state institute, Strata Community Australia (Vic), since 1998. Membership with SCA (Vic) is compulsory for all Ace Victorian managers and many Ace managers have the title, Certified Practising Strata Manager (CPSM).

For more information on owners corporations, please browse the links in the side menu, including 'Strata Links' where you can download the relevant legislation and associated acts as well as visit helpful sites such as http://vic.strata.community/.

For a management quote or property enquiry, please use our 'Local Branches' link in the top menu to search for your specific Ace manager or to find an Owners Corporation manager for your area.

Victoria Head Office

 

DISCLAIMER

 

The content presented is not intended to be advice and you should not rely on it as a substitute for any form of advice. This content is intended to be used for general information purposes only and may or may not reference the varied and constantly evolving strata legislation in each state and territory of Australia. It is always recommended that you seek independent legal instruction for interpretation of relevant strata legislation in your relevant state or territory.